Andfjord Salmon

Andfjord Salmon: Operational update - Fish reaches 1 kilogram

1.11.2022 08:00:01 CET | Andfjord Salmon | Non-regulatory press releases

Andfjord Salmon AS is pleased to confirm that due to strong biological

performance the average weight of the salmon in Andfjord Salmon's first pool at

Andøya, Norway, this week reached 1 kilogram - well ahead of the late December

2022 forecast. This could result in the harvest date being brought forward. The

survival rate stands at industry leading 98.9 percent, four months after the

smolt was released.

"We are very pleased to see that we have been able to provide our salmon with

excellent biological conditions. As a result, the growth rate is higher than

what we estimated. This confirms that the living conditions in the pool are

good, which means that the fish eats well and thereby grows fast. The excellent

survival rate also confirms high fish welfare in the pool`s ecosystem," says

Martin Rasmussen, CEO of Andfjord Salmon.

On 25 June 2022, Andfjord Salmon released approximately 200,000 smolt at an

average weight of 120 grams in the company's first land-based pool at Kvalnes,

Andøya.

"Reaching the 1-kilogram milestone confirms the benefits of Andfjord Salmon's

fish farming concept, where excellent biological conditions in combination with

low energy cost underline the robustness of our business case. The energy-use is

also well within our target 1 kwh/kg salmon produced," adds Rasmussen.

Andfjord Salmon is using water from depths of approximately 40 meters below the

sea surface for its flow-through technology solution. The water is substituted

15-17 times/24 hours. The company`s pools are square shaped with the intention

of replicating a cross section of the Gulfstream. At slaughter weight the

density will be around 35-40 kg/m3.

CONTACTS

* Bjarne Martinsen, CFO, Andfjord Salmon AS, +47 975 08 345,

* Martin Rasmussen, CEO, Andfjord Salmon AS, +47 975 08 665, [email protected]

ABOUT ANDFJORD SALMON

Located at Kvalnes on the island of Andøya on the Arctic Archipelago of

Vesterålen, Norway, Andfjord Salmon has developed an innovative and sustainable

aquaculture concept for land-based farming of Atlantic salmon, based on a

flow-through technology solution. The company's ambition is to build the world's

most sustainable and fish-friendly aquaculture facility of its kind.

Andfjord Salmon AS is listed on Euronext Growth under the ticker ANDF.

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